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TSLA

Tesla Inc. (NASDAQ:TSLA) will halt production at its Berlin plant from Jan. 29 to Feb. 11, 2024, due to supply chain issues caused by attacks on the Red Sea shipping route. The proposed India-Middle East-Europe Economic Corridor (IMEC) could provide an alternative shipping route, potentially benefiting Tesla's long-term strategy. The corridor would connect India's western coast to Israel and Europe, offering a reliable shipping route for Tesla's batteries from China. Additionally, the discovery of lithium reserves in India could influence EV manufacturing and Tesla's interest in setting up a manufacturing plant in India.

Portfolio Pulse from Shankar Iyer

January 30, 2024 | 6:30 pm

Wedbush analyst Dan Ives maintained an Overweight rating on General Motors Co. (GM) following their Q4 financial results, which surpassed expectations with $43 billion in revenue and $1.24 EPS. GM's guidance for 2024 adjusted earnings is also above estimates, indicating a focus on profitability. Despite the EV sector's uncertainties, GM plans to launch six new EV models in 2024 and expects to be EV variable margin positive in 2H24. GM shares rose 7.56% to $38.07.

Portfolio Pulse from Adam Eckert

January 30, 2024 | 6:17 pm

ETHUSD

A total of 2,972.38 Ether (ETH) worth approximately $7 million was burned on Monday, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% per year, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -0.84% yesterday.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 6:00 pm

BTCUSD

ETHUSD

SOLUSD

Solana (CRYPTO: SOL) experienced an 8% surge on Monday, trading above $100. The increase is attributed to a rise in daily active addresses and meaningful applications on its network. Solana's volume exceeded $3 billion after a 75.6% rally. Daily active addresses for Solana surpassed those of Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). New Solana-focused firm Anza was launched, aiming to contribute to the network's development. Kamino, a Solana-based venue, now trades NFT products. Analysts are bullish on Solana, predicting it will converge on Ethereum's success rapidly, with price targets suggesting further gains.

Portfolio Pulse from Khyathi Dalal

January 30, 2024 | 5:58 pm

BOTZ

NVDA

USO

The IMF's latest report suggests a positive economic outlook for 2024, with a forecasted global growth of 3.1%. The report highlights the role of AI, particularly the impact of Nvidia Corp, a leader in AI chip production. The Global X Robotics & Artificial Intelligence ETF (BOTZ) offers exposure to Nvidia and other AI companies. Additionally, geopolitical tensions and inflation are noted as potential risks, with the United States Oil Fund ETF (USO) seeing an 8% gain since the year's start. The U.S. economy is expected to grow by 2.1% in 2024, with fiscal tightening and debt management posing challenges.

Portfolio Pulse from Neil Dennis

January 30, 2024 | 5:51 pm

AAPL

AMZN

GOOGL

META

MSFT

QQQ

TSLA

Gene Munster of Deepwater Asset Management highlighted the importance of the upcoming earnings reports from five of the 'Magnificent Seven' tech companies: Apple, Microsoft, Alphabet, Meta Platforms, and Amazon. He pointed out specific 'pressure points' for each company, such as product contributions, cloud revenue growth, and AI developments. The performance of these companies is crucial as they are expected to be the top contributors to S&P 500 profit growth. The Invesco QQQ Trust, which tracks the Nasdaq 100, was down slightly ahead of these reports.

Portfolio Pulse from Shanthi Rexaline

January 30, 2024 | 5:43 pm

VNDA

A court has ordered the FDA to resolve Vanda Pharmaceuticals' request for a hearing on its jet lag drug by March 5, 2024. The case underscores flaws in the FDA's drug-approval process and highlights the agency's failure to make timely decisions, which hampers medical innovation and delays patient access to new treatments.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:38 pm

HPE

NOC

Hewlett Packard Enterprise (HPE) has sent the third iteration of its HPE Spaceborne Computer to the International Space Station (ISS) on a SpaceX Falcon 9 rocket. The mission, contracted by NASA and part of a Northrop Grumman Commercial Resupply Services mission, aims to enhance space-based edge computing, AI, and machine learning capabilities using commercial off-the-shelf (COTS) servers.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:28 pm

GORO

Gold Resource Corporation released preliminary sales figures for FY23, including 31,085 ounces of gold equivalent, 10,954 tons of zinc, 1,231 tons of copper, and 4,501 tons of lead.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:21 pm

GORO

Gold Resource Corporation reported preliminary sales figures for Q4, including 3,757 ounces of gold, 258,252 ounces of silver, and sales of zinc (2,182 tons), copper (327 tons), and lead (820 tons).

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:20 pm